Not the best day to report this, but the IRS says 1,470 millionaires paid no federal income taxes in 2009. Where did the money go? Tax “expenditures” (otherwise known as deductions, write-offs, subsidies or loopholes), charities, municipal bonds and tax payments to foreign governments, according to a recent IRS report (pdf) that ABC News noticed … Continue reading IRS: 1,470 millionaires paid no income tax in ’09